85 Ellis St · New Britain, CT 06051

$325,000

4 bd · 2.0 ba · 2,002 sqft · MultiFamily public records · 14 Days on market

Built 1880 0.25 ac lot Est $386k · 16% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.5/30.0
• ARV discount +14.6/15.0
• Appreciation +10.0/10.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

2 Family with many updates kitchen,bathrooms,roof and windows, the units are in great shape, 5rms per unit,deck overlooks private back yard

Key facts

• 0.25 acre lot
• Built 1880
• Listed 14 days

Property features AI

Finance

• Other: Two total units (multi-family); 10 total rooms
• Financial info: Assessed value listed

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family (2-family); Frame construction
• Construction: Asphalt shingle roof; Vinyl siding; Concrete foundation
• Exterior features: Balcony; Gutters; Exterior lighting; Level lot

Interior

• Bedrooms: 4 bedrooms (total)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard and radiator heating (natural gas); Natural gas domestic hot water
• Interior features: Ceiling fans throughout; Full unfinished basement with storage; Walk-up attic

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive. Per door: $184/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $325k).
• Cap rate 7.7% vs local median 4.2% in New Britain — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $3,395/mo this rent would consume 80% of the median local household income ($51k/yr) (locally 2100% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $91k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $125k; list at $325k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $325,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $386,386
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Greenwood St	0.23mi	4/2.5	2,004 (+0%)	2mo	$400,000	$200	85
75 Whiting St	0.30mi	4/2.0	2,076 (+4%)	9mo	$260,000	$125	72
104 Greenwood St	0.25mi	4/2.0	1,758 (-12%)	10mo	$339,000	$193	60
309-311 Stanley St	0.56mi	4/2.0	1,848 (-8%)	13mo	$400,000	$216	50
70 Fairview St	0.70mi	4/2.0	2,184 (+9%)	5mo	$409,000	$187	48
131 Winthrop St	0.55mi	5/3.0 (+1)	2,125 (+6%)	16mo	$360,000	$169	42
562 Stanley St	0.60mi	4/2.0	1,800 (-10%)	18mo	$324,000	$180	41
18 Fairview St	0.64mi	5/2.0 (+1)	1,878 (-6%)	19mo	$410,000	$218	39
208 Columbia St	0.69mi	4/2.0	2,160 (+8%)	21mo	$377,500	$175	37
318 East St	0.75mi	4/2.0	1,764 (-12%)	17mo	$357,000	$202	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 3.09×
• Total profit: $190,573
• Equity at exit: $292,786

10-year hold

• IRR: 22.5%
• Equity multiple: 6.77×
• Total profit: $525,154
• Equity at exit: $631,404

Cash invested: $91,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $3,395 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$474 /mo · $5,694/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $368

Break-even live

Break-even rent $2,929

Max offer price $325,000

Occupancy floor 84%

Sensitivity live

Price	-10% $552	-5% $460	+0% $368	+5% $276	+10% $184
Rent	-10% $100	-5% $234	+0% $368	+5% $502	+10% $636
Rate	-1.0pp $531	-0.5pp $450	base $368	+0.5pp $284	+1.0pp $198

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,394
Total (2 units)			$3,395

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
271 Glen St New Britain, CT	3.0	1.0	2230	$1,950	$0.87	2d	1	0.19mi
412 S Main St Unit 1st floor New Britain, CT	3.0	1.0	1863	$1,975	$1.06	2d	1	0.27mi
152 Lyons St New Britain, CT	3.0	1.0	1456	$2,000	$1.37	2d	1	0.65mi
89 Vance St New Britain, CT	3.0	2.0	2944	$2,040	$0.69	2d	1	0.77mi
24 Rocky Hill Ave New Britain, CT	3.0	1.0	2916	$1,650	$0.57	45d	1	0.89mi
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	24d	1	1.07mi
316 High Rd Berlin, CT	3.0	1.5	1600	$3,000	$1.88	15d	1	1.37mi
39 Holmes Ave Unit 2 New Britain, CT	3.0	1.0	2200	$1,600	$0.73	24d	1	1.39mi

Listing history 13 events

1. 2026-06-07
   statusdays on market $325,000 Under Contract 14 DOM
2. 2026-06-05
   days on market $325,000 Under Contract - Continue to Show 13 DOM
3. 2026-06-03
   days on market $325,000 Under Contract - Continue to Show 12 DOM
4. 2026-06-02
   days on market $325,000 Under Contract - Continue to Show 11 DOM
5. 2026-06-01
   days on market $325,000 Under Contract - Continue to Show 10 DOM
6. 2026-05-31
   days on market $325,000 Under Contract - Continue to Show 9 DOM
7. 2026-05-21
   historical $325,000
8. 2011-05-16
   soldstatus $125,000
9. 2011-05-13
   soldstatus $125,000 139-char remark

   Show marketing remark (139 chars)

   2 Family with many updates kitchen,bathrooms,roof and windows, the units are in great shape, 5rms per unit,deck overlooks private back yard

10. 2010-10-19
    listed $150,000 139-char remark

    Show marketing remark (139 chars)

    2 Family with many updates kitchen,bathrooms,roof and windows, the units are in great shape, 5rms per unit,deck overlooks private back yard

11. 2010-09-30
    historical
12. 2010-03-29
    listed $189,900
13. 1992-09-15
    soldstatus $83,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $5,694 · $474/mo
• Projected year-2 tax: $6,324 · $527/mo
• Expected delta: +$630/yr (+$53/mo · 11.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $40,740
• − Mortgage interest: −$18,205
• − Property taxes: −$5,694
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,259
• − Management: −$3,259
• − Depreciation: −$9,455
• Taxable loss: −$757
• Est. tax savings @ 24.0%: +$182
• After-tax cash flow: $4,595/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

Amenities C Commute B Cost of living A Crime D Employment D Housing A Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 3%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• Metro: Hartford-East Hartford-Middletown, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

+291.6% since first listed

10 events — show timeline

• 2026-06-06 Pending — Smart MLS
• 2026-05-29 Contingent — Smart MLS
• 2026-05-23 Listed $325,000 Smart MLS
• 2026-05-21 Coming Soon $325,000 Smart MLS
• 2011-05-16 Sold (Public Records) $125,000 Public Records
• 2011-05-13 Sold (MLS) $125,000 Smart MLS
• 2010-10-19 Listed $150,000 Smart MLS
• 2010-09-30 Listing Removed — Smart MLS
• 2010-03-29 Listed $189,900 Smart MLS
• 1992-09-15 Sold (Public Records) $83,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $5,694 · +2.4% YoY. Source: county tax records.